PCE inflation report: key indicators rose in July. What will the Fed do?

The inflation index that the US Federal Reserve (Fed) is closely watching rose in July, and the possibility that the Fed will raise interest rates again this year has increased.

Consumer prices rose 3.3% from the previous year, above the 3% pace in June, but fell below 7% in 2022/6, which was a high level for the first time in 40 years.

Much of the increase in prices in July was due to the fact that the inflation rate had already begun to slow somewhat by 2022/7, so the price difference between the same month and 2023/7 increased. According to the personal consumption expenditure (PCE) price index, there was a 0.2% increase on a monthly basis, the same as in June.

However, the rate of increase in July was more rapid before the numbers were rounded off. The best high-yield savings account for 2023 that protects assets Meanwhile, private consumption is accelerating, and there is a possibility that inflation pressure will be maintained.